Showing posts with label Articles. Show all posts

Employee Commitment near extinction? - An Interview with a Job Hopper  

Posted by NoeL in , , , ,

My search on internet and among my friends' circle couldn't lead me to the identity of Mr JH or to the original source of this interview. If any of you know, please let me know so that I can give them due credits.

Some, rather most organizations reject his CV today because he has changed jobs frequently (10 in 14 years). The ‘job hopper’ (referred here as Mr JH), does not mind it. Well he does not need to mind it at all. Having worked full-time with 10 employer companies in just 14 years gives Mr JH the relaxing edge that most of the ‘company loyal’ employees are struggling for today. Today, Mr JH too is laid off like some other 14-15 year experienced guys the difference being the latter have just worked in 2-3 organizations in the same number of years. Here are the excerpts of an interview with Mr JH:

Q: Why have you changed 10 jobs in 14 years?
A: To get financially sound and stable before getting laid off the second time.

Q: So you knew you would be laid off in the year 2009?
A: Well I was laid off first in the year 2002 due to the first global economic slowdown. I had not got a full-time job before January 2003 when the economy started looking up; so I had struggled for almost a year without job and with compromises.

Q: Which number of job was that?
A: That was my third job.

Q: So from Jan 2003 to Jan 2009, in 6 years, you have changed 8 jobs to make the count as 10 jobs in 14 years?
A: I had no other option. In my first 8 years of professional life, I had worked only for 2 organizations thinking that jobs are deserved after lot of hard work and one should stay with an employer company to justify the saying ‘employer loyalty’. But I was an idiot.

Q: Why do you say so?
A: My salary in the first 8 years went up only marginally. I could not save enough and also, I had thought that I had a ˜permanent™ job, so I need not worry about ˜what will I do if I lose my job™. I could never imagine losing a job because of economic slowdown and not because of my performance. That was January 2002.

Q: Can you brief on what happened between January 2003 and 2009.
A: Well, I had learnt my lessons of being ‘company loyal’ and not ‘money earning and savings loyal’. But then you can save enough only when you earn enough. So I shifted my loyalty towards money making and saving. I changed 8 jobs in 6 years assuring all my interviewers about my stability.

Q: So you lied to your interviewers; you had already planned to change the job for which you were being interviewed on a particular day?
A: Yes, you can change jobs only when the market is up and companies are hiring. You tell me – Can I get a job now because of the slowdown? No. So one should change jobs for higher salaries only when the market is up because that is the only time when companies hire and can afford the expected salaries.

Q: What have you gained by doing such things?
A: That's the question I was waiting for. In Jan 2003, I had a fixed salary (without variables) of say Rs. X p.a. In January 2009, my salary was 8X. So assuming my salary was Rs.3 lakh p.a. in Jan 2003, my last drawn salary in Jan 2009 was Rs.24 lakh p.a. (without variable). I never bothered about variable as I had no intention to stay for 1 year and go through the appraisal process to wait for the company to give me a hike.

Q: So you decided on your own hike?
A: Yes, in 2003, I could see the slowdown coming again in future like it had happened in 2001-02. Though I was not sure by when the next slowdown would come, I was pretty sure I wanted a ‘debt-free’ life before being laid off again. So I planned my hike targets on a yearly basis without waiting for the year to complete.

Q: So are you debt-free now?
A: Yes, I earned so much by virtue of job changes for money and spent so little that today I have a loan free 2 BR flat (1200 sq. ft.) plus a loan free big car without bothering about any EMIs. I am laid off too but I do not complain at all. If I have laid off companies for money, it is OK if a company lays me off because of lack of money.

Q: Who is complaining?
A: All those guys who are not getting a job to pay their EMIs off are complaining. They had made fun of me saying I am a job hopper and do not have any company loyalty. Now I ask them what they gained by their company loyalty; they too are laid off like me and pass comments to me – Why will you bother about us, you are already debt-free. They were still in the bracket of 12-14 lakh p.a. when they were laid off.

Q: What is your advice to professionals?
A: Like Narayan Murthy had said “Love your job and not your company because you never know when your company will stop loving you.” In the same lines, love yourself and your family needs more than the company's needs. Companies can keep coming and going; family will always remain the same. Make money for yourself first and simultaneously make money for the company, not the other way around.

Q: What is your biggest pain point with companies?
A: When a company does well, its CEO will address the entire company saying, “Well done guys, it is YOUR company, keep up the hard work, I am with you.” But when the slowdown happens and the company does not do so well, the same CEO will say, “It is MY Company and to save the company, I have to take tough decisions including asking people to go.” So think about your financial stability first; when you get laid off, your kids will complain to you and not your boss.

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Old Man and his Son  

Posted by NoeL in , , ,




One old man was sitting with his 25 years old son in the train.Train is about to leave the station. All passengers are settling down their seat.

As train started young man was filled with lot of joy and curiosity. He was sitting on the window side. He went out one hand and feeling the passing air. He shouted, "Papa see all trees are going behind".

Old man smile and admired son feelings.

Beside the young man one couple was sitting and listing all the conversion between father and son. They were little awkward with the attitude of 25 years old man behaving like a small child.


Suddenly young man again shouted, "Papa see the pond and animals. Clouds are moving with train". Couple was watching the young man in embarrassingly. Now its start raining and some of water drops touches the young man's hand. He filled with joy and he closed the eyes.He shouted again," Papa it's raining, water is touching me, see papa".


Couple couldn't help themselves and ask the old man."Why don't you visit the Doctor and get treatment for your son."

Old man said, " Yes, We are coming from the hospital as Today only my son got his eye sight for first time in his life".
Moral: "Don’t draw conclusions until you know all the facts".

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Drunkenomics - Bar Stool Economics  

Posted by NoeL in , ,




Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:
  • The first four men (the poorest) would pay nothing.
  • The fifth would pay $1.
  • The sixth would pay $3.
  • The seventh would pay $7.
  • The eighth would pay $12.
  • The ninth would pay $18.
  • The tenth man (the richest) would pay $59.
So, that's what they decided to do. The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. "Since you are all such good customers", he said, "I'm going to reduce the cost of your daily beer by $20". Drinks for the ten now cost just $80.







The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get his "fair share?"
They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay.


And so:
  • The fifth man, like the first four, now paid nothing (100% savings).
  • The sixth now paid $2 instead of $3 (33%savings).
  • The seventh now pay $5 instead of $7 (28%savings).
  • The eighth now paid $9 instead of $12 (25% savings).
  • The ninth now paid $14 instead of $18 (22% savings).
  • The tenth now paid $49 instead of $59 (16% savings).
Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings. "I only got a dollar out of the $20," declared the sixth man. He pointed to the tenth man, "but he got $10!" "Yeah, that's right," exclaimed the fifth man. "I only saved a dollar, too. It's unfair that he got ten times more than I!" "That's true!!" shouted the seventh man. "Why should he get $10 back when I got only two? The wealthy get all the breaks!" "Wait a minute," yelled the first four men in unison. "We didn't get anything at all. The system exploits the poor!" The nine men surrounded the tenth and beat him up.
The next night the tenth man didn't show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn't have enough money between all of them for even half of the bill!
And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.
David R. Kamerschen, Ph.D.
Professor of Economics, University of Georgia

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Deconstructing the Mumbai Attacks  

Posted by NoeL in , , , , ,

(This article was published in the Mint – WSJ on 04 Dec 2008)
   
As terrorist attacks go, 26/11 scored a ten on ten. Military operations have their own telltale signs of professionalism in planning and execution.  And all signs indicate that this assault was well planned and executed.  The attacks themselves have been dissected and analyzed in great detail but if one were to go beyond the obvious blame games, one would see an analysis that is far more menacing in terms of implications and repercussions.

Intelligence analysts begin their assessment of such events by answering three fundamental questions. Firstly, who has the capability? Secondly, que bono? Who benefits and thirdly, what is likely to happen next. Answering the first two questions usually gives a fair idea of the third.

This attack was executed by well led professionals

The benchmarks of terrorist operations are synchronization, speed of execution, complexity of the mission and the end objectives.

Let’s examine these in some detail. There were at least 3-4 sub units with distinctly different targets. These targets were tactical and diversionary like CST and Leopold, strategic like Taj and Oberoi and surgical strikes like Nariman House. Synchronizing diverse categories of strikes down to an hour in conjunction with other diversions such as bombs in taxies, demonstrate abilities of a high degree.

Consider the number of planets that had to get in line for such an operation to be mounted and a clearer picture emerges.

At least five to eight executive teams were needed to effect such an operation.

Firstly, adequate number of motivated assets had to be found within the talent pool. Then they had to be trained for months, for the sea crossing, insertion into hostile territory, identifying targets, overcoming preliminary resistance and accomplishing the mission. They needed to be given intelligence, reconnaissance inputs, local logistics and communication support. The attacks had to be simultaneous to debilitate resources of anti-terrorist forces and yet had to be in common vicinity to facilitate a single insertion point.

Selection of Taj and Oberoi, as against say an Intercontinental or President, shows the intent to give the terrorist more operating space, and thus a larger window to cause damage and hold media attention. Surgical strike at Nariman house was to send a strong message to Israel since these assets would have been far more damaging in casualty terms in another hotel or office complex. Plus improvisation that indicates higher caliber of leadership. (The capture of boats for the last mile connectivity was certainly an improvisation because something went wrong. One doesn’t launch an operation across hundreds of kilometers into hostile territory hoping to find a boat that can be commandeered.)

All in all, a complex operation and well executed.

Who was behind this attack?

Which brings us back, to the first question. Who has the capability? The process of elimination based on elements of the operation brings it down to just three or four organizations. Of which, two, Naxalites and LTTE can be eliminated because their modus operandi does not warrant such attacks. So let us subject the two remaining organizations with the second question. Who benefits?

We find the answer to that question by answering another question? What did the terrorists want to achieve?

What they did was obvious. They stormed four locations and killed scores of victims. They held the nation to ransom. They were on TV for over three days. But let us see what they did not do. They did not hold hostages, and they did not intend to. Hostage takers do not indiscriminately cause collateral damage abinitio because that reduces the pressure on the state to save the lives of the remaining hostages. They were not aiming for highest possible casualties. Bombs in crowded places are a much better bet to achieve that objective. So just what did the terrorists want to achieve?

The answer– lies in asking how India feels in the aftermath of the incident. The unanimous consensus is summed up in one word – outraged! And when you put that hypothesis, everything falls into place. No hostages, no demands, just seemingly meaningless slaughter. Deep inside the nation’s backyard, multiple strikes, gunning
down expats, Israelis, 72 hours of mayhem, every minute of it televised - leaves a very angry nation in its wake.

So who benefits from an angry and outraged nation? When a nation is outraged – it needs to lash out. At its leadership or at someone else, or both. Lashing out at the leadership is evident in the mass wave of civil movement that has begun. Heads have rolled and the citizenry is demanding more.

But the interesting question is – who would India lash out at externally? After the parliament attack in 2001, the Indian leadership mobilized the defence forces into a precarious détente that lasted over eight months. What if that happened again? Pakistan would have no choice but to reposition its troops from its eastern borders to counter the Indian mobilization, which means it would denude the area which Al-Qaeda has used as its base – and which was rapidly becoming their death knell between the US troops on one side and the Pakistani army on the other.

The Indian leadership cannot be seen as weak and doing nothing. At the very least, they would need to mobilize the Indian forces. Last time this happened in 2001, the Bush administration was very much in command with Parvez Musharraf controlling the Pakistani forces and the ISI. Now, there is no one in charge- in either the US or in Pakistan. When two traditionally hostile nuclear armies mobilize, provocation overcomes logic. Caught between the Pakistani Army and the US troops (who incidentally want to wind up operations in Iraq and refocus on Afghanistan as per the president elect’s agenda) – the best option for Al-Qaeda would be to start a provocation between a nation that has just gone through an ineffectual election and the other which is going into one – with the only mediator busy with the aftermath of its own. A brilliant move.

What does this mean for India?

What does all this mean for India? In the backdrop of the poor record in the financial crisis and internal security performance, the government will have to demonstrate concrete steps for a nation that is baying for blood. While rational elements will try to activate the back channels, it will be in Al-Qaeda’s interests to maintain the momentum driven by bloodthirstiness. And the obvious way to do that would be to keep India
reeling under a secondary wave of attacks. It is time for India to look beyond the obvious reactions to this event and understand the forces which are driving our actions at this stage.

And so, where do we begin? The answer lies in the basic construct of the attacks. This attack would not have been possible without local support, logistics and intelligence.

And that is the place to start the counterattack. Political patronage has long shielded the nexus of the local mafia and terrorist elements. Landing points in ports, laundered money, safe houses, immunity from the police and local logistics all need active support of criminal elements and political patronage. There is evidence to prove that we have information about exactly who these elements are and who safeguards them. The
answer to India’s battlefronts lies much closer than the jingoists would have us believe.
 It is time that India started with liquidating the enemy within.

India simply needs to make it horribly expensive for any politico-criminal nexus to even consider the option of being anti national. Channeling all our anger against this single point- should be our counter attack.

This thought leadership article was authored by Mahindra Special Services Group, India’s leading corporate risk consulting firm that advises companies and organizations on threat assessments and risk mitigation strategies. You may forward this article or use it on your website / advisories with attribution to MahindraSSG.

NB:- 
  • You con download the PDF version of this article here. 
  • For feedback please write to feedback@mahindrassg.com
Suggested Further Reading:-
  1. Business Today, 28th December 2008 Edition (Cover Story: Cost of Terror)

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Life is About Correcting Mistakes!  

Posted by NoeL in , , ,

I found this very interesting and touching!! Planning to do something like this when i get married!! :). Happy reading!!

Priya married Hitesh this day. At the end of the wedding party,

Priya's mother gave her a newly opened bank saving passbook.

With Rs.1000 deposit amount.

Mother: 'Priya, take this passbook. Keep it as a record of your marriage life. When there's something happy and memorable happened in your new life, put some money in. Write down what it's about next to the line. The more memorable the event is, the more money you can put in. I've done the first one for you today. Do the others with Hitesh. When you look back after years, you can know how much happiness you've had.'

Priya shared this with Hitesh when getting home.  They both thought it was a great idea and were anxious to know when the second deposit can be made.

This was what they did after certain time:

  • 7 Feb: Rs.100, first birthday celebration for Hitesh after marriage
  • 1 Mar: Rs.300, salary raise for Priya
  • 20 Mar: Rs.200, vacation trip to Bali
  • 15 Apr: Rs.2000, Priya got pregnant
  • 1 Jun: Rs.1000, Hitesh got promoted ..... and so on...

However, after years, they started fighting and arguing for trivial things. They didn't talk much. They regretted that they had married the most nasty people in the world.... no more love...Kind of typical nowadays, huh?

One day Priya talked to her Mother:

'Mom, we can't stand it anymore. We agree to divorce. I can't imagine how I decided to marry this guy!!!'

Mother: 'Sure, girl, that's no big deal. Just do whatever you want if you really can't stand it. But before that, do one thing first. Remember the saving passbook I gave you on your wedding day? Take out all money and spend it first. You shouldn't keep any record of such a poor marriage.'

Priya thought it was true. So she went to the bank, waiting at the queue and planning to cancel the account.

While she was waiting, she took a look at the passbook record. She looked, and looked, and looked. Then the memory of all the previous joy and happiness just came up her mind. Her eyes were then filled with tears. She left and went home.

When she was home, she handed the passbook to Hitesh, asked him to spend the money before getting divorce.

The next day, Hitesh gave the passbook back to Priya. She found a new deposit of Rs.5000. And a line next to the record: 'This is the day I notice how much I've loved you thru out all these years. How much happiness you've brought me.'

They hugged and cried, putting the passbook back to the safe.

Do you know how much money they had saved when they retired? I did not ask.  I believe the money did not matter any more after they had gone thru all the good years in their life.

"When you fall, in any way, Don't see the place where you fell, Instead see the place from where you slipped."

Life is about correcting mistakes!

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The Economic Cycle  

Posted by NoeL in , , , , ,


 Seems like the good old days are gonna be back soon!! So hang on guys!! :)

Cheers
NoeL

I have added Sudoku application to my Blogs. (Wandering Thoughts from My Life! & Dream MBA). Scroll down for the same...!! Happy Solving!!

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BusinessWeek 2008 Rankings Are Out!  

Posted by NoeL in , , , , , , , , ,

BusinessWeek released its much awaited biannual, full-time MBA rankings. The rankings showed slight movement: Columbia went from #10 in 06 to #7 in 08. Wharton went from #2 to #4. Kelley climbed from #18 to #15.
Frankly, don't pay too much attention to the absolute ranking or even slight movement. Take advantage of BW's rich, informative database and fantastic resources for applicants. Then choose what's important to you and do your own ranking.

Top 30 U.S. Programs
  1. University of Chicago
  2. Harvard University
  3. Northwestern University (Kellogg)
  4. University of Pennsylvania (Wharton)
  5. University of Michigan (Ross)
  6. Stanford University
  7. Columbia University
  8. Duke University (Fuqua)
  9. MIT (Sloan)
  10. UC Berkeley (Haas)
  11. Cornell University (Johnson)
  12. Dartmouth (Tuck)
  13. NYU (Stern)
  14. UCLA (Anderson)
  15. Indiana University (Kelley)
  16. University of Virginia (Darden)
  17. UNC - Chapel Hill (Kenan-Flagler)
  18. Southern Methodist (Cox)
  19. Carnegie Mellon (Tepper)
  20. University of Notre Dame (Mendoza)
  21. Texas - Austin
  22. Brigham Young (Marriott)
  23. Emory University (Goizueta)
  24. Yale University
  25. University of Southern California (Marshall)
  26. University of Maryland (Smith)
  27. University of Washington (Foster)
  28. Washington University (Olin)
  29. Georgia Tech
  30. Vanderbilt University (Owen)
Top 10 Non-U.S. MBA Programs 
  1. Queens University
  2. IE Business School
  3. INSEAD
  4. Western Ontario (Ivey)
  5. London Business School
  6. ESADE
  7. IMD
  8. Toronto (Rotman)
  9. IESE
  10. Oxford (Saîd)
BW bases its rankings on employer and student surveys as well as school research output or "intellectual captial." This year for the first time, in a nod to the economic crisis, it is also including a ranking based on ROI and years to recoup the MBA investment. Not surprisingly, European schools, which tend to be one-year programs, are at the top of the chart. More surprising: HBS ranks 50 out of 50 in this chart. I guess assumptions matter.

Cheers
NoeL

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I Too Had a Dream - Dr. Verghese Kurien  

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Cheers
NoeL

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A Blog Post by Singapore 's Youngest Millionaire Adam Khoo  

Posted by NoeL in , ,

Are You Living Like a Prostitute?

Some of you may already know that I travel around the region pretty frequently, having to visit and conduct seminars at my offices in Malaysia , Indonesia , Thailand and Su Zhou (China ). I am in the airport almost every other week so I get to bump into many people who have attended my seminars or have read my books. 

Recently, someone came up to me on a plane to KL and looked rather shocked. He asked, 'How come a millionaire like you is travelling economy?' My reply was, 'That's why I am a millionaire.' He still looked pretty confused. This again confirms that greatest lie ever told about wealth (which I wrote about in my latest book 'Secrets of Self Made Millionaires').    

Many people have been brainwashed to think that millionaires have to wear Gucci, Hugo  Boss, Rolex etc. (I shop at G2000 by the way) and sit on first class in air travel. This is why so many people never become rich because the moment they earn more money, they think that it is only natural that they spend more, putting them back to square one.

The truth is that most self-made millionaires (not those lucky bast**ds who inherited money) are frugal and only spend on what is necessary and of  value. That is why they are able to accumulate and multiply their wealth so  much faster. Over the last 7 years, I have saved about 80% of my income  while today I save only about 60% (because I have my wife, mother in law, 2  maids, 2 kids, etc. to support). Still, it is way above most people who save 10% of their income (if they are lucky). I refuse to buy a first class ticket or to buy a $300 shirt because I think that it is a complete waste of money. However, I happily pay $1,300 to send my 2-year old daughter to Julia Gabriel Speech and Drama without thinking twice.

When I joined the YEO (Young Entrepreneur's Organization) a few years back (YEO is an exclusive club open to those who are under 40 and make over $1m a year in their own business) I discovered that those who were self-made  thought like me. Many of them with net worth’s well over $5m, travelled  economy class and some even drove Toyota 's and Nissans. I noticed that it  was only those who never had to work hard to build their own wealth (there were also a few ministers' and tycoons' sons in the club) who spent like there was no tomorrow. Somehow, when you did not have to build everything from scratch, you do not really value money. This is precisely the reason why a family's wealth (no matter how much) rarely lasts past the third generation. Thank god my rich dad (Oh no! I sound like Kiyosaki) foresaw this terrible possibility and refused to give me a cent to start  my business. 

Then some people ask me, 'What is the point in making so much money if you  don't enjoy it?' The thing is that I don't really find happiness in buying  branded clothes, jewelry or sitting first class. Even if buying something makes me happy it is only for a while. It does not last. 

Material happiness never lasts, it just give you a quick fix. After a while you feel lousy again and have to buy the next thing which you think will make you happy. I always think that if you need material things to make you happy, then you  live a pretty sad and unfulfilled life.                          
                                                                               
Instead, what make ME happy is when I see my children laughing and playing  and learning so fast. What makes me happy is when I see my companies and trainers reaching more and more people every year in so many more countries. What makes me really happy is when I read all the emails about how my books and seminars have touched and inspired someone's  life. What makes me really happy is reading all your wonderful post about how this BLOG is inspiring you. This happiness makes me feel really good for a long time, much much more than what a Rolex would do for me.

I think the point I want to put across is that happiness must  come from doing your life's work (be in teaching, building homes, designing, trading, winning tournaments etc.) and the money that comes is only a by-product.

If you hate what you are doing and rely on the money you earn to make you happy by buying stuff, then I think that you are living a life no better than a prostitute.

NB:- This is an article I stumbled upon while browsing the internet. You can find the actual blog entry here. Are You Living Like a Prostitute?

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Subprime Crisis - Explained Graphically!  

Posted by NoeL in , ,

You will love this!

The Subprime Primer

NoeL

NB: I got this link from www.pagalguy.com. Someone had shared it there. I don't know who the author is, but whoever he/she is, has done a wonderful job!

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End of Investment Banking?  

Posted by NoeL in , , , , ,

This is THE BIG question that is being asked by many all over the world, today! Yes or No? With the latest developments with the last standing BIG 2, Morgan Stanley and Goldman Sachs Group Inc., we are forced to believe so!!

On Sunday, Sept. 22, 2008, the standalone investment bank died quietly, after a brief but dramatic illness. It was 75 years old. Hope you all know which one I am referring to here!!

On Sunday night, Goldman Sachs and Morgan Stanley said they would become bank holding companies, submitting to the authority and oversight of federal banking regulators. After the collapse of Bear Stearns, the bankruptcy filing of Lehman Brothers and the agreement by Merrill Lynch to be acquired by Bank of America, Goldman and Morgan were the last remaining investment banks. Goldman noted that the move would make it the fourth biggest bank holding company in the U.S. Morgan said it was seeking “maximum flexibility and stability to pursue new business opportunities as the financial marketplace undergoes rapid and profound changes.”

Christine Harper and Craig Torres at www.bloomberg.com says “The Wall Street that shaped the financial world for two decades ended last night, when Goldman Sachs Group Inc. andMorgan Stanley concluded there is no future in remaining investment banks now that investors have determined the model is broken.”

For more reading:-

  1. Bloomberg.com - Goldman, Morgan Stanley Bring Down Curtain on an Era
  2. Business Week - And Then There Were None
  3. CNNMoney.com - Goldman, Morgan Stanley To Convert To New Model
  4. MoneyControl.com - Fed bailout of Goldman, MS: End of I-Bank Era


I always wanted to be an investment banker. The very reason why I wanted to do my MBA was for this! Now what? What should be my long term and short term goals? I will have to readjust myself before the BIG interviews!!

Cheers
NoeL

3 comments »

Google Chrome  

Posted by NoeL in , , ,

Here comes the next 'BIG' (?) application from Google. Earlier dubbed as Google Browser is now called Google Chrome.

You can find more details, with images and videos at the following links.
  1. A Fresh Take on the Browser.
  2. First Images of Google Chrome.
  3. Google Tackles Microsft in the Launch of Browser.
  4. A book - Google Chrome, By the Google Chrome team, comics adaptation by Scott McCloud
The Google is planning to release the first beta version for the users on 2nd September 2008, today!

The Google browser takes direct aim at Microsoft's Internet Explorer, which is by far the most widely used browser. In recent times, Mozilla Firefox has gained popularity as an alternative to Internet Explorer. Firefox holds nearly 20% of the market, compared with about 72% for the Microsoft Internet Explorer. The main reason for the 72% market share for Microsoft is because it comes installed for free with the windows operating system.

With this one and the slated Google Operating System to come, Google is trying to take control of the entire World Wide Web. With all these, what I feel is that this will be just another way to invade the privacy of the internet users. Already Google is collecting a lot of information (such as the user's browsing habits, web history, search history etc) through their internet explorer toolbar. With their own browser, this will be come just too easy for them!

What say?

NoeL

Update :- 03/09/08
After the initial hiccups with Google Chrome, finally it is available for download here.

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Dr Kalam's speech to ENGINEERS of TATA MOTORS  

Posted by NoeL in , , ,

Address and interaction with the Engineers and Staff of Tata Motors, Pune. Date:- 29/Jul/2008


Automobile vision 2020: Internationally competitive Indian automobile system

“There are many Everest’s in the life of man.
It is not the mountain we conquer, but ourselves”.

Dear Friends, When I am with the TATA institution, I realize that you are born out of a vision. A great vision by a great soul in the early 20th century. Jamsetji Nusserwanji Tata laid the foundation for three important areas. The first was the sowing of seeds for TATA Iron and Steel Plant, second to create hydro-electric power station, third was establishment of an educational and research institute popularly known as TATA institute now Indian Institute of Science, Bangalore. Jamsetji Nusserwanji Tata, envisioned all these institutions in early 20th century (May 1904); the IISc-Bangalore opened its doors in 1911; The first ingot of steel rolled out from Tata Iron and Steel Plant in 1912; The hydro-electric power was switched on in Mumbai in 1915. Today, we see all these three institutions flourishing and what a contribution they have made to the national scene IISc has become a world class branded institution. Tata Steel has crossed the nine million tons per year steel output. The Tata Hydro Electric Station has given birth to many power plants in the country. Tata’s vision has brought a revolution in steel industry, power generation and education.
       
I admire this great visionary, a visionary revolutionist who evolved a new method of working towards India’s freedom through development of industry, power and scientific research. The light he lit in our country has lit many lamps and is still lighting.
Let me congratulate everyone in the Tata institutions.

During my visit to Europe and US cities, while traveling in their high ways, with cars of multiple nations whizzing past at 100-110 kms, dear friends, a dream always comes to me. I want to see the Indian designed car, Indian manufactured car running in multiple numbers in multiple nations. When will it happen? How to make it possible? Certainly, Tata has a great opportunity because of your visionary approach, core competence and innovative spirit.

When I am with you all, I would like to discuss the dynamics of automobile enterprises and particularly Automobile vision 2020: internationally competitive Indian automobile system.

TATA’s contribution to Automobile sector
Tata Motors has made history in the past many times. Well known commercial truck making company has shown the world that it can make customer friendly passenger cars . In recent years, the indigenously designed Tata Indica has brought a brand image to India in the Automobile sector. Launch of Indica in 1998and launch of ACE in 2005 have been important milestones in the country’s prowess in automobile sector.
       
Launch of innovative Nano in 2008 is an another important milestone in the world of Indian automotive industry. I would like to greet the TATA team for this singular contribution.

Integrated Capacities
My view is: the growth of automotive industry is powered by competitiveness. Competitiveness is powered by intensive knowledge in multiple fields. Intensive knowledge is powered by technology and innovation. I would like to suggest the TATA Team, to launch a world- wide marketing campaign for NANO and also plan to start multiple manufacturing centers in India and abroad, so that TATA can graduate from the present production of 2,18,000 (all types of passenger vehicles) to 1 Million NANO cars alone in a suitable product mix by the year 2015. In a globally competitive environment, you have to continuously trigger innovations which will capture the global market. You have to meet the multiple users needs in different countries with widely varying climatic conditions, achieving high gradient climbing capability, passenger comfort, safety needs, ease of maintenance and affordability. I would suggest TATA Motors to use their system design capacity, system integration capacity, system management capacity, manufacturing capacity and above all innovative marketing methodology in an integrated manner to produce a globally competitive passenger vehicle system.
You need to evolve this combination in an integrated way, so that million car production can be made possible. For that, what you need to do, is, thinking differently and acting differently with innovative leadership.

Suitable infrastructure for future automobiles
Whenever I meet young people they ask me thought provoking questions, that is: with Nano car coming on the road and becoming affordable for large number of people,. in that situation what will happen to the road traffic congestion? What will be the pollution level increase? What will be its effect on parking problem? When I hear these types of questions, I thought of sharing with you one experience:
When I visited Dubai – UAE in 2003, I met the Ruler of Dubai with his ministers. He said that Dubai is planning to increase the tourist arrival by five times. Once this decision was taken, I found, that the aviation minister was planning for a new airport and also addition of new types of aircraft needed for attracting the tourists. The surface transport minister was planning a number of additional road lanes required in the highways. The works ministry was planning for increase in the hotel accommodation for accommodating the tourists without disappointment. The health ministry had a road map for waste management and a plan for providing the additional clean water needed. This was the type of integrated response that I found in the whole government - a plan of action to fulfill the national objective from the vision of the Chief of the nation. We have to take the message coming out of this experience and plan for the multiple requirements simultaneously for promoting uninterrupted large volume car production and deployment. Your interdiciplinary team may have to study comprehensively various aspects like the loading on the already crowded high ways and city roads, parking facilities, complimentarity with public transport system and financing in affordable way and give valuable inputs to various specialist agencies.
       
Recyclable automobile systems
Dear friends, I would like to share with you a new development in the automotive industry reported in the book titled ‘Pulse’ by Robert Frenay, published in 2006. Carmakers have a history of reclamation and reuse, which they’re now expanding. A new sports car from BMW features a recyclable thermoplastic body that can be disconnected from its frame in twenty minutes. Audi has joined with Volkswagen and Preussag, the steel company, to set up a chain of auto-disassembly plants. With funding primarily from Ford, as well as from Xerox and GE Plastics, Carnegie Mellon University has developed ReStar – a software that analyzes disassembly tasks, McDonough and Braungart are working with Ford on another development, which has a goal to design a production model in which every material can eventually be reused. This technique apart from reducing the ‘embodied energy’ as in the case of construction industry will reduce the cost of the vehicle substantially and simultaneously reduce the pollution created by raw material manufacturing industry. I am sure this development will be of considerable interest to automotive researchers, designers and industry leaders.

Indian Automotive Industry
During the last two decades, Indian Automobile Industry has taken long strides. After 1983, the standard of automotive technology has got redefined and Indian consumers are able to get what their western counterparts are getting. I am also happy to note that many of Indian auto companies have started exporting their components to their original equipment manufacturers in the developed world. In this respect, globalization has done a lot of good in the Indian automobile industry. With the competitiveness arising out of globalization, our thinking has been refined resulting in enhancing our ability to face global competition through our core strength. In India the vehicle production is increasing at about 17%. While this is a welcome situation from the point of view of personnel and goods mobility, it has two major issues which have to be addressed: “environmental pollution and safety”. This has to be done innovatively while designing all our future cars.
       
Innovation is the capital
I was studying the Global Competitiveness Report for the year 2007-08. There I find in terms of Growth Competitive Index ranking US is ranked 1, Switzerland is ranked 2, Finland is ranked 6, Singapore is ranked 7, China 34 and UAE 37 and India is 48. Growth competitiveness is determined by the innovative ability of an organization. This innovation arises from institutional initiative and the R & D productivity of the firm, shaped by policies and nature of local institutions. National innovative capacity has to be the country’s important potential for producing competitive products. I would like to suggest to the TATA team assembled here, to concentrate on the following design criteria for competing in the national and international market:
  1. Work towards highest fuel efficiency for a given class of engine and car sizing.
  2. Work towards fossil fuel free automobile of the future: 
    • Solar power + fuel cell 
    • Electric
    • Ethanol or bio-diesel
    • Hydrogen.
  3. Continuously aim to decrease the overall weight of the automobile systems enabling higher payload capability through state of the art structural design.
  4. Designing the power plant to accept 100% bio-fuel, ethanol and emulsified fuel.
  5. Design to cost and quality
  6. Design of safety systems for providing high-level passenger Safety.
  7. Constantly increasing the electronics, communication and control in the automobile systems for realizing high reliability, self-healing and fail-safe system.
  8. Robotic Car
I realize that all the eight criteria are interconnected. Here I would like to emphasize that winner in the automobile industry will be the one who puts the automobile to run with 100% bio-fuel first in the market. It can be seen in Brazil the gas stations have provisions for various mixes of biofuel and ethanol including 100% biofuels. Automobile plying in Brazil roads have to get the design certification for using maximum biofuel and bio-diesel. Without that, they will not be permitted in run on Brazil roads. We should take note of the successful implementation of such programme in different parts of the world. Fully operated bio-fuel car is going to come to india. Which industry is going to be the pioneer, will you? If so then you will be the winner?

Automobile Research areas
Now, let me discuss some of the research areas where automobile scientists and engineers have to concentrate.
  • Improvement in Combustion Efficiency: For getting better control and precision over combustion and emission, we have to work on direct injection of gasoline for better exhaust characteristics. Gasoline direct injection permits combustion of ultra-clean fuel air mixtures under diverse operating conditions and hence can deliver higher performance with lower fuel consumption and lower emission.
     
  • Improvement in Diesel Engines: One of the important aspect of diesel engines is, the NOx (Nitrogen oxide) and particulate matter in the emission which has to be overcome by use of advanced combustion technologies which will reduce both. Indian Automotive Engineers have to work on this area and to offer the system for use in all types of diesel vehicles.

  • Alternate Fuels: While it is important, to continuously improve the efficiency of internal combustion engines, scientists have to concentrate on development of alternate fuels and renewable energy sources. The future generation cars and trucks have to use bio-diesel, ethanol and hydrogen. Bio-fuels are renewable and can be produced in short notice as against fossil fuels which have been produced over millions of years.

  • Emulsified Fuels: Emulsified fuels are found to give much better emission reduction towards reduced particulate and Oxides of Nitrogen emission reduction along with fuel saving that it is now implemented in most of the developed countries. In India, we are now successfully burning in a boiler in an industry emulsified diesel fuel with 25% water straight away saving 25% of the diesel fuel. The emulsified fuel costs 20% cheaper than the diesel fuel. If one such small boiler using emulsified fuel can save 40 litres of diesel in a day and equivalent amount of cash spent on the fuel, please think about the huge fuel savings and the cost benefits for over thousands of boilers and several external fired equipments running with oil in India. The savings for the country in oil import bill will be over 20% the present level. While combusting emulsified fuels for industrial firing needs no modifications it needs encouragement and educating the users. For automobile applications, TATA Need to work with Hydro drive emulsification technology and IIT Madras to experiment and introduce the emulsified fuels in the Diesel cars and diesel vehicles. Emulsified fuels will cut emissions and will bring down the operating costs including captive power generation costs. This singular research area alone has the potential to make TATA Motors to produce and market the most competitive commercial and passenger vehicle within the next two years.

  • Hydrogen powered fuel cells: Hydrogen powered vehicles are almost zero emission vehicles. We have to progressively move into fuel cell vehicles within a few decades.

  • Alternative Power Plants: Substantial research is required in battery technology to provide a reliable, low-weight, high density and cost effective battery to the large Indian rural population. Simultaneously, there is a need to work on hybrid electric vehicle for containing the growing environmental emission in big cities. Challenge for researchers will be in the development of drives, control electronics, transmission and low weight high capacity batteries.

  • CNT Based Solar PV Cells: Our scientists have to take up this challenge and come up with the development of a CNT based PV cell with an efficiency of at least 50% within the next three years so that it can go into the commercial production within five years. In addition, they can also take up the development of organic solar cells, dye-sensitized solar cells and third generation solar cells. The automobile specialists should work with these energy experts to get the solar cells with 50% efficiency which can be effectively used in solar power driven vehicles. 
Conclusion

Dear friends, I have seen three dreams which have taken shape as vision, mission and realization. Space programme of ISRO (Indian Space Research Organization), AGNI programme of DRDO (Defence Research and Development Organization) and PURA (Providing Urban Amenities in Rural Areas) becoming the National Mission. Of course, these three programmes succeeded in the midst of many challenges and problems. I have worked in all these three areas. I want to convey to you what I have learnt on leadership from these three programmes.
  1. Leader must have a vision.
  2. Leader must have a passion to transform the vision into action.
  3. Leader must be able to travel into an unexplored path.
  4. Leader must know how to manage a success and failure.
  5. Leader must have courage to take decisions.
  6. Leader should have Nobility in management.
  7. Every action of the leader should be transparent.
  8. Leader must work with integrity and succeed with integrity. 
In order to achieve what I have discussed so far and to realize the goals in a specified time frame and to build TATA Motors brand, what we need is creative leadership. Creative leadership means exercising the vision to change the traditional role from the commander to the coach, manager to mentor, from director to delegator and from one who demands respect to one who facilitates self-respect. For a non-linear growth in the Automobile Sector and transforming India into a world leader in the production and marketing of energy efficient, highly mobile, pollution free, safe and cost effective automotive system before the year 2020, the industry needs large number of creative leaders. I am sure, TATA Motors has such leaders who will transform TATA Motors into a one million passenger car per annum producer with 50% going to export market. For that leaders of this organisation should have courage.
Courage
"Courage to think different,
Courage to invent,
Courage to travel into an unexplored path,
Courage to discover the impossible,
Courage to combat the problems
and succeed,
Are the unique qualities of the youth.
As a youth of my nation,
I will work and work with courage to achieve success in all the missions".


May God bless you.

Dr. APJ Abdul Kalam,
29.07.2008

1 comments »

Google infiltrates the knowledge sharing game  

Posted by NoeL in ,

Giving a perfect competitor to encyclopedia Wikipedia, Google opened its website Knol (knol.google.com) to the public on last Wednesday. Unlike Wikipedia, where those who write remain anonymous, Knol allows people to write with their bylines. "We are deeply convinced that authorship, knowing who wrote what, helps readers trust the content." said Cedric DuPont, product manager for Knol.

New York Times reports that Google's Knol - its term for a unit of knowledge - is a collection of user-generated articles on specific topics. Google said that the aim of the free service is to 'help people share their knowledge'. The company would not serve as an editor in any way or bless the content, instead, it would leave editorial responsibilities up to the author. But it will rank the entries according to its popularity to encourage competition.

It also plans to reward authors of popular posts by enabling them to profit from their entries, if they allow Google to place advertisements on their pages. The contributor can earn as per the number of page views the article gets.

Knol is considered as an attempt to boost the company's online advertising income by attracting some of the millions who use Wikipedia, which is non-profit and advertising-free.

Dupont denied Knol was designed as a 'Wikipedia killer', saying, "Google is very happy with Wikipedia being so successful. Anyone who tries to kill them would hurt us."

The highlighted knols on the site's front page were mainly related to health issues such as migraines or irritable bowel syndrome. Knol is widely perceived as a shift in Google's identity of 'organizing the world's information' to 'creating and publishing information' that could potentially compromise its neutrality in organizing search results.

Can/Will Google give a real competition to Wikipedia? We will have to wait and watch!!

NoeL

0 comments »

What happens If 1INR = 100USD  

Posted by NoeL in , ,

Guys!

I stumbled upon this article somewhere in the internet. I find it really interesting. So sharing it with you here. :)


Year : 2050

Place : IBM , USA
(Two Americans Talking)

Currency Conversion Rate : 1INR = 100USD

Alex: Hi John, you didn't come yesterday to office?

John: Yeah, I was in Indian Embassy for stamping.

Alex: Oh really, what happened, I heard that nowadays it has become very strict.

John: Yeah, but I managed to get it.

Alex: How long it took to get it stamped?

John: Oh, it was nasty man, long queue. Bill Gates was standing in front of me and they played with him like anything. That's why it got delayed. I went there at 2 AM itself and waited and returned by 4 PM.

Alex: Really? In India , it is a matter of an hour to get stamped for USA.

John: Yeah, but that is because who in India will be interested in coming to USA man, their economy has been booming.

Alex: So, when are you leaving?

John: Anytime, after receiving my tickets from the client in India and you know, I will be getting a chance to fly Air-India. Sort of dream come true.

Alex: How long are you going to stay in India .

John: What do you mean by how long? I will be settled in India , my company has promised me that they will process my Hara Patta... (green card) .

Alex: Really, lucky person man, it is very difficult to get a Hara Patta in India .

John: Yeah, that's why, I am planning to marry an Indian girl there.

Alex: But you can find lots of US girls in Hyderabad, Bangalore and Mumbai.

John: But, I prefer Indian girls because they are beautiful and cultured.

Alex: Where did you get the offer, Hyderabad?

John: Yeah, salary is good there, but cost of living is quite high, it is Rs. 2000/- for a single room accommodation.

Alex: I see, that's too much for US people, Rs.1/- =$100/-. Oh God! What about in Bangalore, Mumbai?

John: No idea, but it is less than what we have in Hyderabad. It is like the world headquarters of software.

Alex: I heard, almost all the Indians are having one personal Robot for help.

John: You can get a BMW car for Rs. 5000/-, and a personal Robot for less than Rs.7500/-. But my dream is to purchase Ambassador, which costs Rs.2 ,00,000/- but has got a lovely design.

Alex: By the way, who is your client?

John: Subbarao and Apparao Associates, a pure Indian company, specialising in Embedded Software.

Alex: Oh, really, lucky to work in a pure Indian company. They are really intelligent and unlike American Bodyshoppers who have opened their Fly-by-night outfits in India . Indian companies pay you in full even when you are on bench.

My friend Paul Allen, it seems, used his bench time to visit Bihar, the most liveable place in India , probably world. There you have full freedom and no restrictions. You can do whatever you want! I wonder how that state has perfected that system.

John: Yeah man!, you are right. I hope our America also follows their footsteps.

Alex: How are you going to cope with their language?

John: Why not? From my school days I have been learning Hindi as my first language here at New York . At the Consulate they tested my proficiency in Hindi and were quite impressed by my cent per cent score in TOHIL i.e. Test of Hindi as International Language.

Alex: So, you are going to have fun there.

John: Yeah, I will be travelling in the world's fastest train, world's largest theme park, and the famous Bollywood where you can see actors like, Hrithik, Shah Rukh Khan and all. Esselworld is also near Bollywood.

Alex: You know, the PM is scheduled to visit US next year, he may then relax the number of visas.

John: That's true. Last month, Narayana Murthy visited White House and donated Rs. 2000/- for infrastructure development at Silicon Valley and has promised more if we follow the model of High-Tech City of Bangalore. Bill Gates also got a chance of meeting him. Very lucky
person.

Alex: But, Indian government is planning to split Narayanamurthy's Infosys.

John: He is a hard worker man, he can build any number of Infosys like this. Every minute he is getting Rs. 1000/-. It seems, if you keep all his money converted as Rs. 100/- notes you can reach Pluto.


Alex: OK, Good Luck John.

John: Same to you Alex. And don't go to Consulate in a "Kurta Pyjama" because they will think you are too Indianised and may doubt you will never come back and hence your Non-Immigrant Visa may get rejected. But don't forget to say "Namaste, aap kaise hai" to the Visa officer at Window 5. It seems he likes that and will not give you a visa if you don't greet him that way.

Interesting Huh?

NoeL

NB: I don't know whether the author of this piece of article was trying to be frank or sarcastic towards India!

0 comments »

Gaping hole in Gmail Privacy  

Posted by NoeL in , ,

I came across a an interesting blog post showing how to get the name of a Gmail account. Since the bug was visible through Google Calendars I hoped that it was maybe limited to users who had signed up for Google Calendar. This is not the case.

Ever wondered what name is behind some obscure gmail address? Maybe your preferred gmail address was taken and you’re wondering who took it?
Here’s a cute vulnerability in the gmail system that comes from the strong tie-ins between gmail, the google calendar and all the other services.

What you have to do for finding the names is:-

  1. Go to Google Calendar.
  2. On your left side, go to the 'Share this Calendar' TAB.
  3. Enter the email address of which you are interested to find the details in 'person' box.
  4. Click ‘add person’ and ’save’.
  5. If you are told that the user is not using Google Calendar and whether to send an invite to him, say 'NO'.
  6. Now return to 'Share this Calendar' TAB. Here you will see the first and last name of the person along with the gmail address.

It is that simple!! Now try who uses admin@gmail.com emal address. :) If you are still not clear with the procedure, go here.

We can just hope Google finds out this ASAP and fixes it!
Privacy is at Stake!!

NoeL

NB: Many cases, people use false names. Still, it is a problem.

Update: 20/07/2008
Google has addressed this issue. Now the name is not being displayed!

0 comments »

Credit Cards - How does it work?  

Posted by NoeL in , , ,

Many of us are having the following apprehensions or doubts about Credit Cards.

  • How does Credit Cards Work?
  • What is the VISA or MasterCard logo on the Credit Cards signify?
  • What is behind cash back offers?
  • Is is safe to use a Credit Card?
  • Are Credit Cards handy?
You will get your answers below. All these are well explained as a conversation between Ramu & Shamu...

Ramu: I want to buy a Sony digital camera costing Rs.20,000, but I don't have any cash right now.

Shamu: Why don't you use your ICICI Bank credit card? Never heard them say? Hum Hain Na??

Ramu: I am quite skeptic about using these cards. I pay using the card, get a bill after 30 days and pay after another 20 days. This is a maximum of 50 days interest free loan. Why does any bank do it?

If I borrow Rs.20,000 on personal loan at 11%. Interest to be paid for 50 days = Rs. 20,000 * 11% * (50/365) = Rs. 301.40.

Here the bank is giving me a loan without interest when I use the credit card. Something is wrong somewhere!

Shamu: Well? Let me tell you how it works when you use your card to pay for the camera.
  • You present your ICICI Bank credit card - a VISA card.
  • Sony World swipes your card on a machine provided by Citibank. Lets call Citibank, "the acquirer bank" and the process of Sony World swiping the card on that machine, "requesting authorization."
  • Citibank communicates with the card issuer, ICICI Bank through VISA Network to check if the card is valid and has the required credit limit.
  • ICICI Bank reviews and approves / declines which is communicated back to Sony World.
  • You sign a receipt called Sales Draft given by Citibank. This is the obligation on your part to pay the money to ICICI Bank. Data on this receipt can be captured electronically and transmitted.
At the end of day or at the end of some period Sony World chooses:
  • Sony World submits the receipt you signed to Citibank who pays Sony World the money. Sony World pays Citibank a fee called Merchant Discount. Let us say this is 6% of the sale value = 6% * 20,000 = Rs. 1200
  • Citibank sends the receipt electronically to a Visa data center which in turn sends it to ICICI Bank.
  • ICICI Bank transfers the money to a settlement bank which in turn transfers the funds to Citibank.
  • Citibank pays ICICI Bank an Interchange Fee of 4% of the sale value =4% * 20,000 = Rs. 800
  • 20 to 50 days later ICICI Bank gets the money from you and you don't pay the interest!!
Ramu: Interesting! So Sony World pays more than the interest that I should have paid for the loan that I take. I, as a card holder have the following benefits.
  1. Convenience of not having to carry cash.
  2. Credit availability - Free of interest.
However what benefits does Sony World get for paying so much money? Isn't it more profitable for them to take cash? They can save as much as Rs.1200.

Shamu: Certainly. Some retail outlets offer you discounts if you pay by cash, don't they?

However when you don't count the money that you are spending, you tend to buy more! Cards encourage this - called impulse purchase.

If you did not have access to credit, you would not have bought the camera this month, or may be not any time soon either. By accepting cards, the merchant is actually extending you credit at the risk of the card issuer. He pays money to the banks to carry that risk.

Ramu: So ICICI Bank uses this money to pay back to us when they announce 5% cash back. They insist that the Sales draft that I sign at the retailer should also be from ICICI Bank. This means they are saving on the Interchange Fee and also pay me a part of the Merchant Discount
that they get.

Shamu: Exactly! If you have noticed, ICICI Bank gives you the cash back in the next credit card statement. They keep the "cash back" money for a maximum of 60 days before passing on a part to you. This accrues them interest too.

Say if ICICI Bank earns an interest of 6% per annum for the cash they carry? They get Rs.1000 * 6% * (60/365) = Rs. 10

That is not huge, but money nevertheless. And when you consider that almost everyone in this city shops with a credit card these days, it is a big sum.

Ramu: And that also explains why banks tie up with petrol pumps? Like ICICI Bank has tied up with HPCL and I could re-fuel there without having to pay the fuel surcharge of 2.5%. The card issuer and the acquiring bank is the same and that saves interchange fees.

Shamu: Good! You seem to have figured out how it all works!

Let me summarize:

NoeL

NB:- All the numbers used to explain concepts in this article must be treated only as an example. Merchant Discounts may vary from bank to bank. Interchange Fee is regulated by VISA and MasterCard.

4 comments »

Village labourer cracks IIT entrance  

Posted by NoeL in , ,

Here is another inspirational story from the millions out there. This is the second of its kind in my blog. The first one can be found here.


With hard effort and single-minded devotion, you can make possible what seems impossible.

That is what an 18-year-old has shown in Khammam district of Andhra Pradesh. With not enough to eat, and no money even to burn the midnight oil, in a village with hardly nine hours daily power supply, the boy managed to secure 453rd rank in the IIT entrance exam. However, he has won only half the battle yet.

At Garikapadu village in Khammam district, the IIT entrance rank holder, Narasimha Rao, is a labour under the National Rural Employment Guarantee scheme.

With the daily wage of Rs 80, Narasimha wants to repay dues for borrowing books from a reference library. Even at work, his thoughts revolve around science.

''When I am working in the field also, I think of questions in physics. I just can't understand how these mobiles work? How the waves travel?'' says Narasimha.

Narsimha's mother Lakshmi can't tell what exam her son has passed but the labourer parents say their son has made them proud.

''My boy said he would buy me a gas stove to cook after he gets a job. I know he is grown up now. My eyes burn when we burn wood,'' says Lakshmi.

Narsimha managed to get coaching in an IIT institute in nearby Vijaywada with the financial support by some elders in this village. Now the 18-year-old has to attend counselling at IIT Madras on June 18, for which he does not even have travel expenses.

''After I am settled in life, I promise to pay back the money. I will be so thankful,'' says Narasimha.

Source : NDTV.com

NoeL

1 comments »

What is the WORTH of The Internet?  

Posted by NoeL in , ,

When I started getting into the world of internet, I wondered how someone, by owning a website, makes money. That time, according to me, owning a website was a costly affair and it was devoid of returns.

Then, with further interaction with the internet and websites like GOOGLE, I came to know about the advertisements that are being put on the websites. Each of those advertisements gave good returns to the website owner. That is when I started thinking about the amount of money that is present in The World Wide Web.

Just look at Google Inc.
  • What is their business model?
  • Where do they get all these money?
  • How are they managing to come out with such wonderful applications?
  • How did they reach the No.1 position in internet in about 15 year’s time?

Today, no one tells you to ‘go and search in the internet’. Instead, they will say ‘go google it’. Google is synonymous to internet and vice versa.

Google revolutionized internet. And the whole money that Google Inc. made was obtained from the internet. This will give us some idea about the kind of money that is available in this FREE internet. Just that, one should find the right working tool to tap it.

Now, having started with such a thought provoking post, let me introduce two people who, through their respective websites, tried to tap the money that is in internet.


    2. Alex Tew, a young then 21-year old student from UK started the website for the sole purpose of raising money for his university education. The index page of the site consists of a 1000×1000 pixel grid (one million pixels), on which image-based links were sold for US $1 per pixel, in minimum ten by ten blocks. The purchasers of these pixel blocks provided tiny images to be displayed on them, a URL to which they were linked, and a slogan displayed when hovering the cursor over the link. The aim of the site was to sell all of the pixels in the image, thus generating one million dollars of income for the creator. He was successful in his business model and earned a whooping $1, 037, 100 USD till January 2006. (Source)

    You can read more about him here or you can go directly to his blog. I am putting a snap shot of his website here.

    Description: Screenshot of The Million Dollar Homepage*
    Screen Shot: Taken on 20-05-2008 at 10:00AM by NoeL

  2. Ankur Shanker

    Ankur Shanker is a 25 year old engineer from Noida, Northern India, who decided to follow the path of Alex Tew and he started the website blog, Million Dollar Story in November 2007. Ankur wanted to raise money for funding his MSc. Economics from LSE.

    Ankur was admitted to LSE last year but then he deferred his admission by one year to July 2008. This was mainly due to insufficient funds for funding his higher studies plans at LSE. When Alex Tew decided to sell his web space at $1 per pixel, Ankur wrote short stories. Ankur thought of attracting more and more people to his website through interesting and thought provoking short stories, and thus earning money from the advertisements featured in his blog. A slightly different business proposal when compared to Alex Tew but with the common aim of finding funds for higher education. Ankur stepped into blogging for making $110, 000 USD in 6 months.

    On 3rd January 2008, IBN Live had come out with an article on Ankur and it can be read here. Ankur also featured in several Press/Media during this time. (Link)

From the reports and figures available on various websites, it is pretty clear that Alex Tew is successful in his Million Dollar Home Page. I am not sure about Ankur though I have asked for the same on his blog.

We can find lots and lots more of people like this who is trying to tap the money available in internet. Many are successful but dangerously many more stumble on their way.

NoeL

NB: Many might be thinking why I am here on the internet. It is not for money. Though I don’t mind it coming my way! :)


*This is a screenshot of a copyrighted web page, and the copyright for it is most likely owned by owner of the website. It may also contain trademarked logos. It is believed that the use of a limited number of such screenshots for identification and critical commentary relating to the website in question qualifies as fair use under The (US) copyright law.

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‘Funny’ Is English Or English Is Funny  

Posted by NoeL in

I stumbled upon this article somewhere in the internet. I felt nice reading it and so thought I will post it here for you guys to read and enjoy! Happy reading...!

English is a funny language. There is no egg in eggplant nor ham in hamburger; neither apple nor pine in pineapple. English muffins weren’t invented in England nor French fries in France. Sweetmeats are candies while sweetbreads, which aren’t sweet, are meat. We take English for granted. But if we explore its paradoxes, we find that quicksand can work slowly, boxing rings are square and a guinea pig is neither from Guinea nor is it a pig.

And why is it that writers write but fingers don’t fing, grocers don’t groce and hammers don’t ham? If the plural of tooth is teeth, why isn’t the plural of booth beeth? One goose, 2 geese. So one moose, 2 meese? One index, 2 indices?

Doesn’t it seem crazy that you can make amends but not one amend, that you comb through annals of history but not a single annal? If you have a bunch of odds and ends and get rid of all but one of them, what do you call it?

If teachers taught, why didn’t preacher praught? If a vegetarian eats vegetables, what does a humanitarian eat?

Sometimes I think all the English speakers should be committed to an asylum for the verbally insane. In what language do people recite at a play and play at a recital? Send shipment by truck and send cargo by ship? Have noses that run and feet that smell? Park on driveways and drive on parkways?

How can a slim chance and a fat chance be the same, while a wise man and wise guy are opposites? How can overlook and oversee be opposites, while quite a lot and quite a few are alike? How can the weather be hot as hell one day and cold as hell another.

Have you noticed that we talk about certain things only when they are absent? Have you ever seen a horseful carriage or a strapful gown? Met a sung hero or experienced requited love?

You have to marvel at the unique lunacy of a language in which your house can burn up as it burns down, in which you fill in a form by filling it out and in which an alarm clock goes off by going on.

English was invented by people, not computers, and it reflects the creativity of the human race (which, of course, isn’t a race at all). That is why, when the stars are out, they are visible, but when the lights are out, they are invisible. And why, when I wind up my watch, I start it, but when I wind up this essay, I end it.

NoeL

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I study at European Business School, Oestrich-Winkel. The opinions expressed here are my own, and neither European Business School, Oestrich-Winkel nor any other party necessarily agrees with them.